XAUUSD Daily Forecast Mar 02 2015

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Outlook in XAUUSD has turned neutral at the moment , the pair is in recovery mode as long as trades above the 1211 levels , but recovery above the 1211 levels should be limited by the 1228/1252 levels where fall resumption is likely ….however ; sustained breakout – daily closing – above the 1252 levels will suggest short term bottoming and open the 1274/1307 levels before the next possible fall…

On the downside , stability below the 1211 levels is needed to restore the downside momentum , If seen  focus will be on the 1199 levels , a cut will open 1167 next , further down will pave the way towards the 1142/1131 levels..

In all , as long as 1211 support holds on a daily closing basis , the XAUUSD remains in recovery mode , but recovery above the 1211 levels should be limited by the 1228/1252 levels , below 1211 levels will restore the downside momentum and open 1199 ahead of the 1167 levels….

 

XAUUSD Daily Forecast Mar 02 2015

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